Province launches million-dollar bursary for young entrepreneurs
May 26, 2025, 1:04 pm
Ryan Kiedrowski, Local Journalism Initiative Reporter
First announced in the provincial spring budget, Trade and Export Development Minister Warren Kaeding and Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy officially launched the Young Entrepreneur Bursary in Regina last week. Applications for the program opened May 21 and will see 57 local young entrepreneurs have the opportunity to receive bursaries of $5,000 to foster business development.
“Small businesses create jobs and opportunities, ensuring that we continue to build a resilient and vibrant community across the province for years to come,” Warren Kaeding said. “The Government of Saskatchewan is delivering on investments that facilitate growth, and that’s why today we’re excited to launch the Young Entrepreneurs Bursary—a new program that’s for business development for Saskatchewan entrepreneurs, age 18 to 35.”
He explained how the new program seeks to build enthusiasm for entrepreneurship while recognizing the risks and the challenges faced by young entrepreneurs.
“The Government of Saskatchewan will be providing $285,000 annually over the next three years, plus covering all administration and processing costs to support this program,” Kaeding said. “So often we hear from small businesses that they just need that little injection of capital to get them over the hurdle of getting started, or being able to buy inventory, or getting to that next phase of their growth and development. This is really a small amount, but yet it also is significant enough to make a difference in their business.”
The total investment of $940,000 funding is being provided to the Saskatchewan Chamber of Commerce, who will administer the program and deliver up to 57 bursaries per year.
“The Saskatchewan Chamber of Commerce’s work reaches business communities across the province through their network of 57 local Chambers of Commerce,” Kaeding said. “They have a deep understanding of our province’s diverse business landscape, and their expertise has been instrumental in the development of this new bursary program.”
In addition to the monetary boost, bursary recipients will also gain mentorship to further support their business growth.
“These businesses create jobs, they build opportunities and they attract investment,” Kaeding said. “These are key components to our stable and growing economy. The Young Entrepreneur Bursary is part of our commitment to ensure that Saskatchewan remains one of the best places in Canada to start and grow a small business.”
Entrepreneur roots run deep in Saskatchewan, as Kaeding shared statistics from 2024 that showed nearly 152,000 across the province that included 149,000 small businesses.
“With 125 small businesses for every 1,000 people, Saskatchewan has the second highest concentration of small businesses in the country,” he said. “We want to see our businesses reach new heights and economic success with new jobs, new investments, and new opportunities for everyone, because when our economy is strong, all people of this great province benefit.”
Ramaswamy stated that “entrepreneurship is at the backbone of the Saskatchewan economy,” spanning across the province.
“From Meadow Lake to Moosomin, young entrepreneurs are solving real problems, creating jobs, and building the future of our communities,” she said. “But we also know that starting and growing a business is not easy. Access to capital, mentors and networks can be major barriers, especially in our smaller communities and rural communities. That’s why this bursary matters.”
Through working with the 57 local Chambers across the province, Ramaswamy is intent on spreading the word about the bursary opportunity.
“Our goal is to find one deserving young entrepreneur in each Chamber region; someone who shows potential ambition and a commitment to growing their business right here in our province of Saskatchewan,” she said. “This program is more than just funding. Recipients will also gain access to mentorship, peer networking and guidance from a province-wide business community that wants to see them succeed.”
Over 90 per cent of businesses in Saskatchewan are considered small businesses and almost 40 per cent of the province’s population is under the age of 35.
“This bursary is a smart investment—not just in people, but in economic resilience and long term growth in our province,” Ramaswamy said. “To the young entrepreneurs across our province, if you’ve been waiting for a sign, this is it!”
Business is booming in Saskatchewan, especially when taking a glance at the 2024 real GDP numbers from Statistics Canada, which show the province at an all-time high of $80.5 billion, which is an increase of $2.6 billion (3.4 per cent). This places the province second in national GDP growth and is above the national average of 1.6 per cent.
In terms of private capital investment, Saskatchewan is the nation’s leader with a 17.3 per cent increase in 2024 to $14.7 billion. That investment is slated to hit $16.2 billion this year for a 10.1 per cent increase over 2024 and mark the second highest anticipated percentage increase through all provinces.
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